1. Even though globalization affects the world economies in a very positive way, its negative side should not be forgotten. Discuss.

Globalization

has benefited many developing countries across the

globe but

Accept comma addition

globe, but

undoubtedly at the same time has impacted developed nations.

Globalization

has caused

major impact

Suggestion

a major impact

in terms of loss in job opportunities in the more developed countries which resulted in shift of jobs to poor, weaker nations. It has

also

caused

concentration

Suggestion

the concentration

a concentration

of wealth and power in

hands

Suggestion

the hands

of

small corporate elite

Suggestion

a small corporate elite

which gobbled up smaller competitors around globe.

Furthermore

,

extensive

Suggestion

extensively

damaged is caused to environments. Greenhouse emission rose

instead

of trying to curtail them.

However

, weak and developing nations got top notch opportunities on their way as spread of technologies, products, jobs across the borders has fostered interdependence of nations. It

also

resulted in the standard of living in less developed countries as majority of

job

Suggestion

jobs

were outsourced to these countries.

In addition

,

globalization

resulted in less operating cost as cheap raw material can be purchased by importing part from countries with zero import tax duty.

For example

, A car manufacturer based in Japan can manufacture auto parts in several developing countries, ship the parts to another country for assembly,

then

sell the finished car to any nation. China and India are foremost examples of nations that have benefited from

globalization

. To conclude, in my opinion advantages of

globalization

outweigh

Suggestion

outweighs

over its disadvantages. It’s almost necessary to embrace

globalization

and conduct business internationally if one wants company to be competitive in the global marketplace.